IRS Issues Proposed Regulations Under Code Section 162(m)
Code Section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code") precludes a tax deduction for remuneration paid to certain employees of publicly held companies in excess of $1,000,000. On June 23, 2011 the IRS issued proposed regulations under Code Section 162(m) to clarify two provisions of existing treasury regulations.
New Qualifying Therapeutic Discovery Project Credit Will Benefit Biotech Companies
The Patient Protection and Affordable Care Act adds a new provision to the Internal Revenue Code that could provide a significant benefit to small and mid-size companies in the biotechnology industry. The Act, which was signed by President Obama on March 23, authorizes the Secretary of the Treasury to award up to $1 billion in qualifying therapeutic discovery project credits in 2009 and 2010. The credit is equal to 50% of an eligible taxpayer’s qualified investment in a qualifying therapeutic discovery project.
Federal HIRE Act Provides New Tax Benefits for Hiring Unemployed Workers
Somewhat lost in the excitement of pending healthcare legislation, on March 18, 2010, President Obama signed into law the Hiring Incentives to Restore Employment (HIRE) Act. The HIRE Act features two new tax benefits designed to incentivize employers to hire and retain workers who were previously unemployed or working part time.
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- Rule 14a-11
- Rule 14a-8
- Public Company Transition Rules
- Performance-Based Compensation
- IRS
- Code Section 162(m)
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- Executive Compensation
- Corporate Governance
- Consumer Protection Act
- Tax Credit
- Qualifying Therapeutic Discovery Project
- Patient Protection and Affordable Care Act
- Health Care Act
- Corporate Tax
- Employment Incentives
- HIRE Act
- Social Security Tax
- Securities Law
- NYSE Rule 452
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